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Paccar profit jumps 32% as North America truck sales rise
Net income rose to $309.4 million, or 87 cents per share, in the third quarter ended Sept. 30 from $233.6 million, or 66 cents per share, a year earlier.
Total revenue rose 13 percent to $4.30 billion.
“Our customers in North America are benefiting from higher fleet utilization and record freight tonnage, which are driving industry fleet replacement,” Chief Executive Mark Pigott said in a statement on Tuesday.
Paccar makes commercial trucks under the Peterbilt, Kenworth and DAF brands. (Reuters)
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